Some Bet That Netflix (NFLX) Rose Too Far, Too Fast in 2013
Over the last few months, Netflix (Nasdaq: NFLX) has ripped higher. From a close at $92.59 on December 31, 2012, shares have just about doubled to a close of $182.11 as of Tuesday.
The good news is that there is still plenty of upside left in the stock, if history has any say. Shares reached a pinnacle at about $304.79 in 2011, capping one of the more impressive stock moves since the financial fiasco in 2008. Shares of Netflix traded as low as $20 at the end of 2008.
The bad news which might not actually be that bad is that short interest recently took another turn higher. From the middle through end of last month, shares being held short rose 4.3 percent to 8.42 million, or 15.39 percent of float. With Netflix shares moderately plateauing in the $180 to $195 range, some might speculate that traders are looking for downside from $140 following a sharp move higher on January 24th after quarterly results were released. The stock gapped above the $105 level to $140 following the release of results.
Wednesday morning, Netflix is showing some early gains amid reports it might have FB) in international markets for a while now, but recent legislation has made it possible in the U.S.
The good news is that there is still plenty of upside left in the stock, if history has any say. Shares reached a pinnacle at about $304.79 in 2011, capping one of the more impressive stock moves since the financial fiasco in 2008. Shares of Netflix traded as low as $20 at the end of 2008.
The bad news which might not actually be that bad is that short interest recently took another turn higher. From the middle through end of last month, shares being held short rose 4.3 percent to 8.42 million, or 15.39 percent of float. With Netflix shares moderately plateauing in the $180 to $195 range, some might speculate that traders are looking for downside from $140 following a sharp move higher on January 24th after quarterly results were released. The stock gapped above the $105 level to $140 following the release of results.
Wednesday morning, Netflix is showing some early gains amid reports it might have FB) in international markets for a while now, but recent legislation has made it possible in the U.S.